Morgan Stanley says it has started using the Depository Trust & Clearing Corporation’s new tokenization infrastructure and has tokenized US equities and Treasurys through the service, making it one of the first banks to do so, The Block reported on November 4. The bank announced the step in a post on X.
DTCC’s tokenization service went live last week with 20 participating institutions, including JPMorgan, Citi, Bank of America, Barclays, BNP Paribas, Fidelity Investments, State Street and UBS. DTC, the group’s depository subsidiary, holds about $114 trillion in assets under custody. DTCC says the service was developed with input from more than 150 firms and initially supports Canton and a private Besu network, with more users being onboarded on a rolling basis.
“The hands-on experience of integrating tokenized securities with established market infrastructure will inform the continued development of the firm’s digital asset capabilities as the market evolves,” said Amy Oldenburg, Morgan Stanley’s head of digital assets strategy.
Separately, Morgan Stanley expects to support trading of tokenized equities on its alternative trading system in the first quarter of 2027, later than its earlier target of the second half of 2026. The broader push continues elsewhere: NYSE owner Intercontinental Exchange is building a tokenized trading platform, with Broadridge, Computershare, Equiniti and Superstate signed up as transfer agents.
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